Another sign that Boston's economy is looking up right now, the influx of hotels being built and opening. According to an article from Boston.com we could see as many as 4,000 new hotel rooms in the city within the next 2 years. There are plenty of projects put into place and some hotels are already opening. There are up to 24 different hotels in the works for Boston. This may seem extremely high, and it is unlikely that we'll be seeing 24 brand new hotels in the next few years, but as of right now we can expect about 6 and we'll see how many of the plans go through for the other 18 or so.
Copley Plaza Hotel in Boston
Marriott appears to be capitalizing on this need for hotels and the building craze it seems to be creating. They just recently opened a Courtyard hotel down towards the T.D. Garden and it looks like there will be a Marriott Residences Inn going in near the convention center along the waterfront. The South End and waterfront is where a majority of the demand for hotels is coming from. The Westin Boston Waterfront is also looking to expand given the demand and the need for more rooms.
According to Boston.com 79% of the time Boston hotels are sold out, this is an extremely high sell out rate and certainly is welcoming for new hotel business in the area. It's been almost two years since a hotel has opened here but that's all about to change! This could mean that we'll see a rise in property values and a real push to bring more people into the city! This is all very good news!
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